You can use this form to close open financial periods in the cash management subledger, which is a required stage of closing a period in the general ledger. The financial period can be closed in the general ledger only if it is closed in the accounts payable, accounts receivable, inventory, fixed assets, and cash management subledgers. When you close a given financial period in the cash management subledger, all preceding open periods will be closed as well if they have not already been closed. Also, you can use this form to reopen closed financial periods.
By default, the ability to post transactions to closed periods is granted to only users assigned to the Financial Supervisor role on the User Roles (SM201005) form. To give all users the ability to post to closed periods, you clear the Restrict Access to Closed Periods check box on the General Ledger Preferences (GL102000) form.
The form toolbar includes the buttons described below.
You use the elements in this area to specify the action the system should perform on the financial periods you select for a specific company (which you can select as well). You can also select the date range (in financial years) of the periods to be listed in the table.
For the Close action, the table displays all periods from the selected year range that are open in the cash management subledger; for the Reopen action, the table displays all periods from the selected year range that are closed in the cash management subledger. Select the period or periods you want to close or reopen, and click Process on the form toolbar; you can instead click Process All. A period can be closed only if there are no unreleased documents in this period.